{"id":111280,"date":"2025-01-31T12:52:20","date_gmt":"2025-01-31T08:52:20","guid":{"rendered":"https:\/\/noortrends.ae\/en\/?p=111280"},"modified":"2025-01-31T12:52:22","modified_gmt":"2025-01-31T08:52:22","slug":"gold-holds-near-record-high-amid-trade-tariff-uncertainty","status":"publish","type":"post","link":"https:\/\/noortrends.ae\/en\/gold-holds-near-record-high-amid-trade-tariff-uncertainty\/01\/31\/economic-reports\/","title":{"rendered":"Gold Holds Near Record High Amid Trade Tariff Uncertainty"},"content":{"rendered":"\n<h3 class=\"wp-block-heading\"><\/h3>\n\n\n\n<p>Gold prices remained <strong>steady on Friday<\/strong>, hovering near <strong>record highs<\/strong> as <strong>safe-haven demand<\/strong> surged due to <strong>uncertainty surrounding U.S. tariffs<\/strong> and <strong>cautious sentiment ahead of key U.S. inflation data<\/strong>.<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li><strong>Spot gold<\/strong> was <strong>unchanged<\/strong> after touching a record peak of <strong>$2,799.60 per ounce<\/strong>.<\/li>\n\n\n\n<li><strong>Gold Futures (February)<\/strong> rose <strong>0.1%<\/strong> to <strong>$2,793.74 per ounce<\/strong> by <strong>01:55 ET (06:55 GMT)<\/strong>.<\/li>\n<\/ul>\n\n\n\n<h3 class=\"wp-block-heading\"><strong>Key Market Drivers<\/strong><\/h3>\n\n\n\n<h4 class=\"wp-block-heading\"><strong>1. Trump\u2019s Tariff Threats Fuel Safe-Haven Demand<\/strong><\/h4>\n\n\n\n<ul class=\"wp-block-list\">\n<li>President <strong>Donald Trump<\/strong> reiterated plans to impose <strong>25% tariffs<\/strong> on <strong>Canada and Mexico<\/strong> starting <strong>February 1<\/strong>.<\/li>\n\n\n\n<li>He also threatened <strong>steep tariffs on BRICS nations<\/strong> (<strong>Brazil, Russia, India, China, and South Africa<\/strong>), raising fears of a <strong>global trade conflict<\/strong>.<\/li>\n\n\n\n<li>Markets reacted with <strong>risk aversion<\/strong>, boosting <strong>gold\u2019s appeal as a safe-haven asset<\/strong>.<\/li>\n<\/ul>\n\n\n\n<h4 class=\"wp-block-heading\"><strong>2. Federal Reserve Policy &amp; Inflation Data Awaited<\/strong><\/h4>\n\n\n\n<ul class=\"wp-block-list\">\n<li>The <strong>Fed kept interest rates steady this week<\/strong>, with <strong>Chair Jerome Powell<\/strong> signaling <strong>no immediate rate cuts<\/strong> due to <strong>persistent inflation risks<\/strong>.<\/li>\n\n\n\n<li>Traders are now <strong>awaiting the U.S. December PCE price index<\/strong>, the Fed\u2019s <strong>preferred inflation gauge<\/strong>, due later on <strong>Friday<\/strong>.<\/li>\n\n\n\n<li>A <strong>higher-than-expected PCE reading<\/strong> could <strong>delay rate cut expectations<\/strong>, potentially affecting <strong>gold\u2019s momentum<\/strong>.<\/li>\n<\/ul>\n\n\n\n<h4 class=\"wp-block-heading\"><strong>3. Precious Metals Mixed<\/strong><\/h4>\n\n\n\n<ul class=\"wp-block-list\">\n<li><strong>Silver Futures<\/strong> climbed <strong>0.7%<\/strong> to <strong>$32.76 per ounce<\/strong>.<\/li>\n\n\n\n<li><strong>Platinum Futures<\/strong> were <strong>flat<\/strong> at <strong>$1,027.80 per ounce<\/strong>.<\/li>\n<\/ul>\n\n\n\n<h3 class=\"wp-block-heading\"><strong>Copper Falls on Proposed Tariffs &amp; Weak China Demand<\/strong><\/h3>\n\n\n\n<ul class=\"wp-block-list\">\n<li><strong>Trump\u2019s proposed tariffs on industrial metals<\/strong>\u2014including <strong>steel, aluminum, and pharmaceuticals<\/strong>\u2014added to concerns over <strong>global trade disruptions<\/strong>.<\/li>\n\n\n\n<li><strong>Copper prices fell<\/strong>, extending losses amid <strong>weak Chinese demand and trade uncertainty<\/strong>:\n<ul class=\"wp-block-list\">\n<li><strong>London Metal Exchange Copper Futures<\/strong> dropped <strong>0.5%<\/strong> to <strong>$9,080.65 per ton<\/strong>.<\/li>\n\n\n\n<li><strong>February Copper Futures<\/strong> edged <strong>0.1% lower<\/strong> to <strong>$4.036 per pound<\/strong>.<\/li>\n<\/ul>\n<\/li>\n<\/ul>\n\n\n\n<h3 class=\"wp-block-heading\"><strong>Market Outlook<\/strong><\/h3>\n\n\n\n<ul class=\"wp-block-list\">\n<li><strong>Gold\u2019s rally could extend<\/strong> if <strong>tariff tensions persist<\/strong> and <strong>inflation data supports safe-haven demand<\/strong>.<\/li>\n\n\n\n<li><strong>Copper and industrial metals<\/strong> remain under pressure amid <strong>uncertain trade policies<\/strong> and <strong>weak manufacturing demand<\/strong>.<\/li>\n\n\n\n<li><strong>The PCE inflation report will be a key catalyst<\/strong> for <strong>Fed policy expectations<\/strong>, which could impact <strong>gold\u2019s direction in the near term<\/strong>.<\/li>\n<\/ul>\n","protected":false},"excerpt":{"rendered":"<p>Gold prices remained steady on Friday, hovering near record highs as safe-haven demand surged due to uncertainty surrounding U.S. tariffs and cautious sentiment ahead of key U.S. inflation data. Spot gold was unchanged after touching a record peak of $2,799.60 per ounce. Gold Futures (February) rose 0.1% to $2,793.74 per ounce by 01:55 ET (06:55 &hellip;<\/p>\n","protected":false},"author":9,"featured_media":104608,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[6827,49],"tags":[6923,7603],"class_list":["post-111280","post","type-post","status-publish","format-standard","has-post-thumbnail","","category-daily-economic-reports","category-economic-reports","tag-ecb","tag-gold-prices"],"_links":{"self":[{"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/posts\/111280","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/users\/9"}],"replies":[{"embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/comments?post=111280"}],"version-history":[{"count":2,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/posts\/111280\/revisions"}],"predecessor-version":[{"id":111282,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/posts\/111280\/revisions\/111282"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/media\/104608"}],"wp:attachment":[{"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/media?parent=111280"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/categories?post=111280"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/tags?post=111280"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}